This past Thursday night, as rumors swirled concerning an incident at Brown University, the network's Kaitlan Collins took to social media, highlighting the uncertainty and directing people to her network’s 9pm newscast.
Although CNN is certainly not a impeccable news source, her message rang true to many. It remains one of the broadcasters where you can find reality-based and generally dependable reporting – notably during fast-moving events like the one developing in the vicinity of a New Hampshire storage facility.
A Precarious Situation During a Business Struggle
Yet CNN, now middle-aged, finds itself in a precarious state as two giant media empires battle over ownership of its parent company, Warner Bros Discovery.
No matter the result, the future of CNN has been drawn into a major game of mergers and acquisitions, not as a question of what helps the news-consuming public.
“This represents another instance of the fundamental flaws with origins in many years of regulatory actions,” said Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The conjecture about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a broader point.
“It gets presented as a corporate drama with powerful individuals as the main characters, but there is hardly any discussion of the common good,” Pickard said.
The Complicating Factor: The Former President
The CNN scenario is complicated by Donald Trump’s views about a network he has frequently denounced as perhaps his chief “fake news” antagonist.
Recall the cries of “CNN sucks!” at Trump's rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now claims that the network requires new ownership. You can read that as ownership that will shield him from negative coverage and examination. That is a factor in why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to prefer that suitor more. For one thing, it is controlled by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that historic news network.
A Possibility of More Turmoil
It is important to note, if Netflix wins, CNN and other cable outlets would first be separated into a independent unit. Such a move could be a relief to many at the network, but it’s hardly a guarantee of stability. That setup could position CNN for yet another acquisition. The cycle continues.
According to Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance wrote recently that anti-trust laws should disallow both deals.
“Both acquisition attempts would be harmful to the country, and both should be challenged by anti-trust authorities,” Wu recently wrote.
The Fundamental Challenge and a Potential Solution
No matter the outcome in this situation, the larger issue endures.
“What we have now is a highly anti-democratic system, but we shouldn’t give in to a sense of powerlessness,” Pickard noted. Government actions – originating in the 1930s and 1940s – helped to foster this hyper-commercialized monster, and revised policy decisions can fix it.
Will that happen in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Overhaul is highly improbable now, but that should not imply it will be impossible forever.
Measures that strengthen independent news organizations, reinforce local journalism, subsidize public media, and prohibit the consolidation of media power in very few hands are achievable – they are essential for a functioning democracy.
When it comes to media ownership, bigger isn’t better. And news organizations such as CNN shouldn’t be pieces in the newest corporate chess match.
